§ 30-2-14-38 — Disbursements from income

Indiana § 30-2-14-38

• Jurisdiction: Indiana
• Art. 2: GENERAL PROVISIONS
• Ch. 14: Uniform Principal and Income Act

Text

A trustee shall make the following
disbursements from income to the extent that they are not
disbursements to which section 18(a)(2)(B) or 18(a)(2)(C) of this
chapter applies:
(1) one-half (1/2) of the regular compensation of the trustee and
of any person providing investment advisory or custodial services
to the trustee;
(2) one-half (1/2) of all expenses for accountings, judicial
proceedings, or other matters that involve both the income and
remainder interests;
(3) all of the other ordinary expenses incurred in connection with
the administration, management, or preservation of trust property
and the distribution of income, including:
(A) interest;
(B) ordinary repairs;
(C) regularly recurring taxes assessed against principal; and
(D) expenses of a proceeding or other matter that concerns
primarily the income interest; and
(4) recurring premiums on insurance covering the loss of a
principal asset or the loss of income from or use of the asset.

Legislative History

As added by P.L.84-2002, SEC.2. Amended by P.L.51-2014, SEC.17.